Great forums with tons of helpful information. But I still have some very particular questions to my situation.
Here is my case: After loosing my job I was forced to work out of country (in Mexico under a Mexican local contract), but will return to the US (Texas) later this year. My credit card bills and unsecured personal loans (around $45K debt) where to much to keep up with, so I stopped payments over a year ago. They all show as a write off on my credit report (except one Amex card that I stopped paying in April). I am married but unfortunately am going through a separation right now from the wife and will most likely divorce her (but this won't happen before filing for BK). We do have a house (current on all payments) that is basically paying itself because it is leased out (We rent a home for her and the kids because it was cheaper then paying the mortgage on the house we own). She also owns a vehicle (current on all payments) where I am the co-signer (the primary loan is under her name).
I have pretty much decided that I will file for BK under Chapter 7 (since I doubt that I will be able to pay anything back if filing under Chapter 13).
My Questions are: How will it affect the house, the car my wife is driving and what would happen if I buy a car with cash money for myself upon return and before filing BK ? If I have saved up cash money, should I leave it in my bank account in Mexico ?
Also, can I file chapter 7 without affecting her and her credit rating, or is it recommended that we file it together ? The debt is all unsecured debt under my name except the mortgage.
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